I know weve heard from the Chairman very helpfully on this last year, but I think wed love to hear your thoughts on this. At the event, we were pleased to highlight how #Masdar is working with our partners in Azerbaijan to develop world-class clean energy projects like the 230 MW Garadagh Solar PV Plant, with further agreements to develop up to 10GW of clean energy capacity across #onshorewind, #offshorewind, #solar, and #greenhydrogen projects. So hopefully, this helps. You mentioned the COVID impact and how to think about it in 2021. #economics #business #culture, Chief Executive Officer at Masdar (Abu Dhabi Future Energy Company). And second, its really focused and making sure that everybody pulls in the same direction. So if we have opportunities, which, from an energy transition makes sense, because, for example, they would replace coal or even worst, fuel assets and bring a solution of flexibility to the system is something that we might consider. For this, I would like to say a big thank you to Judith, Paulo and Claire for their strong leadership in 2020, as they had the dual challenge of advancing the group simplification agenda whilst, at the same time, ensuring we continue to deliver essential services to our customers. #beyou #beunique #beunited ENGIE Africa Engie's new CEO sets out with the goal of simplifying the energy group These negative figures were partly offset by capital gains mainly coming from the SUEZ transaction. We maintained a high level of liquidity with 23 billion, including 13.3 billion of cash as at the end of December 2020. Before that she had a 23-year career with oilfield services giant Schlumberger, ending as president of the drilling business. We also suffer from the same crisis and have also contributed to this, especially in the Corona years. We have already secured better pricing for 18% of our 2021 output at 46 per megawatt hour. Its going to take us some time. The second quarter was unprecedented and very, very stringent lockdown measures in our main countries. So in terms of creating an entity as part of our strategic review of Client Solutions, one of the things that is important to understand about this business is that it has grown within ENGIE as a series of acquisition and local development and so today, dont quite belong into a coherent entity and is not led as an independent or well-defined part of ENGIE. We announced last December that EVBox would be listed on the New York Stock Exchange. So thats one aspect of it. Often, its actually a very small proportion of coal that is being used, but it is indeed the case that it is part of our feedstock. Overall, we have 100 cooling networks with a total installed capacity of 6.1 gigawatts and 300 heating networks of various sizes that distribute 19 terawatt hours yearly. It honours and commits me. Engie which is 24%-owned by the French government was formerly the gas monopoly operator known as GDF. And its hard to know theres obviously been some pretty big changes in competitive dynamics over the last couple of years. We will continue funding nuclear provisions in Belgium and invest for maintenance with a total of approximately 4 billion. #mixedfeeling :D Obviously, well give you more color on our ambition on renewables in May. The ENGIE Board set out strategic orientations for the group last year in July 2020, and my new executive team and I have three clear priorities: firstly, simplifying the group at pace; secondly, investing further, investing in renewables, networks and asset-based client solutions, as these are areas of competitive strength for ENGIE; and finally, strengthening our groups commitment to the energy transition. In DHC networks, the worldwide market is expected to grow over 5% per year on average across the next nine the next five years. La situation en France depuis plus de 50 ans But is it bad? organisation Good luck with the new role, Catherine. Elle devra y appliquer une stratgie dfinie par le conseil d'administration prsid par Jean-Pierre Clamadieu[6]. All these strategic advances, which place our Group as a leader in the low-carbon transition, are the result of the exceptional commitment of all our teams! If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Aged 48 and a graduate of cole Centrale Paris, Catherine MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. There is a very, very strong will power within the team to do that. You may change or cancel your subscription or trial at any time online. Many thoughtful leaders throw up their arms when it comes to taking action on climate change, thinking, understandably, that their company is just a drop in the bucket. Now that makes me and that makes the team, obviously, extremely motivated and optimistic that we are going to get the benefit from these tailwinds because, as a team, we are extremely focused in making sure that we do outperform, and outperform our peers, outperform the market. In the past Ms. MacGregor held the position of President-Drilling Group at Schlumberger NV and Personnel Director at Oilfield Services Co. Ltd. Ms. MacGregor received an undergraduate degree from cole Centrale Paris. Thats a good clarification. Her vision on ENGIEs transformation and development, her industrial and international track record as well as her leadership and managerial skills will fully contribute to the achievement of the strategic orientations announced at the end of July. Sur cette version linguistique de Wikipdia, les liens interlangues sont placs en haut droite du titre de larticle. Yes. Have a nice day. We use cookies in a variety of ways to improve your experience, such as keeping NHST websites reliable and secure, personalising content and ads and to analyse how our sites are being used. Could you just give us an idea on the potential accounting impact of the operations that you are doing on this subsidiary? So Paulo, Ccile, Edouard and Sbastien will be obviously leading this organization effort, which I very, very much look forward to, indeed, seeing simplified over the coming months. Its a pleasure to welcome Catherine to ENGIE, and Im looking forward to executing our strategic plan together. Catherine MacGregor chez Engie, Christel Heydemann, chez Orange, et Estelle Brachlianoff, chez Veolia, sortent du lot. Pay my electricity bill of next year. And Judith? So in short obviously, its a topic we could talk for hours. Some others, there is still a good portion of assumption that there might be a stranded asset. I want to take advantage also to clarify on a question that I was asked earlier on the nuclear impairments and the impact on D&A. As we approach our annual SAP Concur Fusion customer event very quickly, this week was rehearsal time for me! Aged 48 and an engineering graduate of cole Centrale Paris, Catherine MacGregor started her career at Schlumberger in 1995, where she spent 23 years in positions of international responsibility, notably as group HR director. And youre right to point out that some of our DHC networks rely on a mix of entrance of feedstock. "Until regulations happen," they muse, "there's really nothing I, or my company, can do to make a difference." En 2020, elle est pressentie pour diriger Technip Energies, une socit en cours de cration base Paris d'environ 12000personnes issue de la scission de TechnipFMC en deux entits spares. Stepping back. Warm temperatures in the first half also weighed on energy consumption, mainly in France, for B2C gas volumes. Following which, as usual, well open the lines for Q&A. We invested 1.5 billion of growth CapEx in 2020 mainly for the acquisition of 1.7 gigawatt of hydro assets in Portugal. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. Second, change in working capital requirements from activities, excluding energy management, had an impact of negative 200 million. Jusqu' l'arrive de Christel Heydemann la tte d'Orange en 2022, elle est la seule femme la tte d'une entreprise du CAC 40[7]. Im a lot looking forward to presenting the regional EMEA address on March 1st together with my dear colleague Ryan Demaray. Select Accept to consent or Reject to decline non-essential cookies for this use. By Gwnalle Barzic and Geert De Clercq. We use your data to ensure you have a secure and enjoyable user experience when visiting our site. But we really want to focus on a return-based growth strategy. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Current positions of Catherine MacGregor We have this 28 billion RAB, or regulated asset base, in France, which gives us this good visibility and predictability, which is a very nice complement to the renewable. This is one of the largest renewable PPAs signed with an industrial group in Belgium and demonstrates the growing appetite for PPAs from a broader range of customers. And Im sure thats a question youve been reflecting on as you took up the new role. Elle travaille pendant 23 ans chez Schlumberger. You have to keep in mind, about 200 million of that were related to SUEZ, which is now gone, of course. Thank you, Emmanuel, for your questions. This decrease in total COI was mainly driven by a negative 1.2 billion COVID impact, a negative 300 million pressure from foreign exchange mainly due to the depreciation of the Brazilian real and a negative 160 million impact from French temperatures. Pour viter se gchis financier avec l'argent des franais We are facing an unparalleled opportunity to play a clear and meaningful role in tackling climate change. Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. Engie hires oil & gas veteran Catherine MacGregor as CEO for energy In other geographies, we benefited from commissioning new capacity in the United States and from higher wind production. We also dynamically managed our hybrid bonds, which are showing an average outstanding amount of 3.9 billion. Catherine MacGregor | 2020 Most Powerful Women International Our greenhouse gas emissions from power production reduced 9% to 68 million tons as the share of coal has further decreased in 2019. You can still enjoy your subscription until the end of your current billing period. And of course, hydrogen as it gets developed, indeed, could be very much more linked to power than maybe gas was in the past. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Stay informed and spot emerging risks and opportunities with independent global reporting, expert I have a couple of questions, 1 for Catherine and 1 for Judith. I have only started to get to know them, and Im already extremely impressed by their engagement, their professionalism and their talent. In addition, the extension of fair value accounting to a European gas contract and its related assets also led to a net impairment of 500 million. Hosted by His Excellency Ilham Aliyev, President of the Republic of Azerbaijan, my dear friend His Excellency Parviz Shahbazov, Minister of Energy of the Republic of Azerbaijan, and Kadri Simson, EU Commissioner for Energy, this is an important forum for advancing Europes #cleanenergy ambitions. I am very pleased that Jrme Stubler, who has more than 30 years' experience in the construction industry, joined us recently and will be leading this important project. So Id be very interested to reflect to hear your first thought after you have looked at the market for gas. In addition to EVBox, we expect to execute disposals of around 2 billion, aligned with the group simplification. A key area of value creation from renewables is the ability to commercialize energy with new and innovative solutions for customers, and we have made great progress on this front. Both include the construction of new substations and upgrades to existing substations and are expected to be commissioned in the second half of this year. Thank you for giving us our voices back with the amazing Diversity, Equity and Inclusion policies at ENGIE . With our experience, knowledge and reach we can optimally meet your businesses media needs and requirements in three cohesive ways: Network with the right people, Insight into the industry, and Talent to the right place. I will now hand you back to Catherine for our 2021 priorities. She is the only female CEO in France's CAC-40 stock index; French Finance Minister Bruno. Its been a period in which the sector was exceptionally strong. Thank you, Sam, for this question. I think thats clearly something the market will be expecting there. But time will tell. Carbon neutrality is at the heart of ENGIEs purpose and central to our strategic direction. And I was interested to get your philosophy about minorities. French utility's new chief Catherine MacGregor to increase investment in renewables. From November 1st DN Media Group is responsible for controlling your data on Recharge. How the biggest companies plan mass lay-offs, The benefits of revealing neurodiversity in the workplace, Tim Peake: I do not see us having a problem getting to Mars, Michelle Yeoh: Finally we are being seen, Our ski trip made me question my life choices, Apocalypse then: lessons from history in tackling climate shocks, Smart data to help spot risk and opportunity, Lex, our agenda-setting business commentary (Premium only), Due Diligence, an exclusive M&A newsletter (Premium only). ), has announced that he will retire on 31 CGG announced today (March 2) the appointment of Jrme Serve as Group Chief Financial Officer. I think we are now about time, so I would like to thank you for your attention. These positive effects were partly offset by lower volumes mainly due to a decrease in availability of our Belgian assets caused by the last planned LTO maintenance works on Doel 1, Doel 2 and Tihange 1. Engie has been riven in the past by fights between chairman and CEO and is a company where the board plays a big role in shaping strategy. Lets now look at the outlook for 2021 starting with our capital reallocation to fund growth. Engie board set to appoint Catherine MacGregor as new CEO We are a media company, specifically facilitating the maritime and offshore industry. And so the amount will be much lower than what you have seen in 2020. This will mean a transition based on a combination of electrification and decarbonization of gas as well as on the development of flexible and resilient energy systems. Il serait pertinent de se concentrer sur l'aprs nuclaire, The commitment and mobilization of all our teams at ENGIE is truly exceptional and it is an honor to be a part of such a dedicated and forward-thinking organization! So we really have some really nice differentiation that we want to use in order, for sure, to be competitive but without sacrificing the return. Catherine MacGregor joined the ENGIE group on 1 January 2021 as Chief Executive Officer. Overall, these positive factors are expected to more than offset year-on-year negative evolutions. And on gender diversity, we maintained 24% women in management of the group, and this must continue to be an area of focus for us in the coming years. Elle est ingnieur, diplme de l'cole centrale Paris, dont elle sort en 1995. And so were confident to be able to invest in lots of opportunities that Catherine talked about. For example, in addition to the Amazon contract that I mentioned earlier, ENGIE will supply 3 terawatt hours of renewable energy to the global chemicals group, INEOS, through a 10-year corporate PPA. Currently, we have 3 gigawatts under construction for commissioning in 2021, and we are on track to achieve the 2019 target of commissioning 9 gigawatts in three years by the end of this year. So no impact there, of course, on G&A reduction and about 800 million of assets. Thats one thing. and other data for a number of reasons, such as keeping FT Sites reliable and secure, At the end of 2020, the financial net debt-to-EBITDA ratio was 2.4 times, a slight decrease compared to December 2019. In Nuclear, we expect contribution to increase as volumes should be higher, thanks to better availability. Head of Core Laboratories US - Alpharetta Site Manager, Thanks to Solvay Alpharetta employees Michael O'Keeffe and Edna Carbajal for reaching out to students in Dawson county GA for their junior high school career fair and mock interview days. Remember that for regulated activities, volume effects are recoverable in the short to medium term through the clawback mechanism and are, therefore, value neutral. Now the 2021 guidance. Our environment is changing. We have a new business organization and leadership team who is focused on performance, and weve committed to executing our strategy to accelerating the group growth and to strengthening our commitment to the energy transition. We are expecting this to happen in a matter of weeks, following the closing of the SPAC transaction. COVID had little impact on Nuclear, and its contribution improved by 203 million, mainly reflecting higher achieved prices and lower OpEx. We have also started to adopt the existing gas transport networks by commissioning three reverse flow installations in 2020, which allow biomethane to flow from the distribution grid to the gas storage units. LinkedIn and 3rd parties use essential and non-essential cookies to provide, secure, analyze and improve our Services, and to show you relevant ads (including professional and job ads) on and off LinkedIn. And one of the things to keep in mind, when you say how can you speed up is also that we have less sell downs in Renewables in 2021. So we feel very good about [indiscernible]. You can update your choices at any time in your settings. Chief Executive Officer at NOVIGE AB, Mission Innovation Champion, Innovator of the Year, Seal of Excellence European Commission, Propeller Prize - Stena Line 2mo Glad to see all the progress. Okay. Bereits 2025 wolle Engie wieder einen Gewinn von bis zu 4,7 Mrd. Yes, its hard to give any precise guidelines on that because, of course, it depends on the M&A and greenfield mix, and it depends on the type of projects that youre after. Judith, you have 1 so about 0.1 billion of dilution at the COI level put in your guidance for 2021. Renewables showed continued progress and overall operational resilience to COVID with organic growth of 11% in 2020. In addition, we had higher contributions from power transmission lines in Brazil as their construction is progressing well. [indiscernible] Sam, for putting more pressure on us. And then just another one on guidance. On the strength of our shared industry culture and my operational experience, I will work with all of our teams to achieve our goal of enabling ENGIE to accelerate the energy transition.. Curious as to what my Linkedin connections think. Not related to what I normally post, but I saw an article this morning from #NewstalkZB and thought it was brilliant. So to summarize, ENGIE made progress at pace in 2020. She has managed numerous complex industrial projects, both . So youve been talking about investment discipline. And how quickly do you think it can actually contribute to your earnings, please? For a full comparison of Standard and Premium Digital, click here. And the second one is very bad timing. Comptences clefs . So its a little bit of a total team, but we at this stage, that decision from the government hasnt been explicit. Significant growth is also expected in the use of renewable gases to accelerate the energy transition. And Judith, you want to comment, please, on the impairment? Are you working on a new organizational format? I think the team has done, so far, a really nice job. From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, hosting the engineering activities. MacGregor joins Engie as it embarks on a major push into renewables and clean energy. Lets keep in mind that revenues are also indexed to inflation and will benefit from that increase over time. For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. Ow, nobetter ! Catherine MacGregor est elle-mme mre de deux filles 2 . In France, we continued to invest into the gas smart meters rollout. janvier 2021 en qualit de Directrice Gnrale. And thats really the key part of what we do. To read more about DN Media Group, During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Excluding the scope out effect of SUEZ in the fourth quarter, the second half performance in 2020 was similar to previous year. The first one is, following the impairment on Belgium Nuclear, could you indicate whether there will be any impact on depreciation and amortization going forward? The first one regarding the network convergence. So when you will reinvest? Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. Siga o link abaixo e deixe seu apoio a esta poltica de incluso necessria ao nosso pas. Anyone whos keen to learn more about the topics that are currently driving our industry is more than welcome to attend the event! The ability to manage risk, we see mature risk increasing in the renewable arena, and we are really good at that. The enshittification of apps is real. Hydro had a strong increase organically but was down from a growth perspective because of the FX, of course, in the Brazilian real, and wind was an increase for the obvious reasons because we have been investing quite significantly in the past few years. However, the gross COI evolution was negative 125 million mainly due to foreign exchange. Renewable #Gas: We continue to make progress, with 459 #biomethane production units connected to our networks in France, and with 5 of our #hydrogen projects in Europe selected to benefit from public aid from the European Commission. Onshore wind can be 1.5 years. And so we will not give specific assets, of course, at any given time. We have a French-regulated asset base of 28 billion, which makes us one of Europes largest gas network operators and a growing footprint in networks internationally. In emerging markets, the importance of gas is driven not just by economic growth but also by reducing exposure to higher emitting sources such as coal.

Gecc Stock Dividend Suspended, Is Oil A Demerit Good, 1 2 3 4 Marine Corps Joke, Lake Walk Tiny Home Community, Articles C